Avendus Future Leaders Fund III Aims for ₹1,800 Cr Final Close by July-End
Private equity firm Avendus announced it is targeting a final close for its Future Leaders Fund III at approximately ₹1,800 Cr (around $187 million) by the end of July.
Private equity firm Avendus is set to finalize its Future Leaders Fund III with a target closing amount of around ₹1,800 crore (approximately $187 million) by the end of July. The firm plans to increase its investments in late-stage businesses.
The fund has so far deployed about 30% of its capital and intends to support five to six additional companies over the next year. Recently, the fund invested approximately ₹140 crore in Parag Parikh Financial Advisory Services (PPFAS) through a secondary transaction.
PPFAS, established in 1992, operates in mutual funds, wealth management, GIFT City funds, private equity, and the National Pension System (NPS). Its assets under management have experienced a compound annual growth rate of about 70% over the past five years, according to Ritesh Chandra, Managing Director of Avendus Future Leaders Fund.
The Future Leaders Fund III (FLF III), launched in 2024, initially aimed for a corpus of ₹1,500 crore with a greenshoe option of an equal amount, setting a total target of ₹3,000 crore. The strategy typically involves backing companies that are two to three years away from a liquidity event, such as an IPO or stake sale.